Dr Reddy's Lab net edges up 2%

Drug firm Dr Reddy's Laboratories on Friday reported 2.46 per cent increase in consolidated net profit to Rs 342.70 crore for the fourth quarter ended March 31, 2012, over the same period of previous fiscal.

The company had posted a net profit of Rs 334.47 crore during the same period of previous fiscal, Dr Reddy's Laboratories said in a filing to the BSE.

Net income from sales and services of the company rose to Rs 2,658.45 crore for the fourth quarter, as compared to Rs 2,017.27 crore during the same period of previous fiscal.

For the year ended March 31, 2012, the company posted a net profit of Rs 1,426.21 crore, as against Rs 1,104 crore in 2010-11 fiscal.

The company's net income from sales and service for the year ended March 31, 2012 rose to Rs 9,673.74 crore, compared to Rs 7,469.28 crore in the previous fiscal.

The company's board, which met on Friday, recommended a final dividend of Rs 13.75 (275 per cent) per equity share of Rs 5 each, for the financial year 2011-12.

Shares of Dr Reddy's Laboratories were trading at Rs 1,652 on the BSE in late afternoon trade, down 2.81 per cent from its previous close.